HSBC USA to price autocallable notes linked to Bank of America, Citi, JPMorgan

By Angela McDaniels

Tacoma, Wash., March 28 - HSBC USA Inc. plans to price 0% autocallable notes due April 28, 2011 linked to the common stocks of Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

The notes will be called automatically if the worst-performing stock closes at or above its initial price on an auto redemption date. Investors will receive 135% of par if the notes are called on April 27, 2009, 170% of par if called on April 26, 2010 and 205% of par if called on April 25, 2011.

If the notes are not called, the payout at maturity will be par if the final price of each stock is greater than or equal to its barrier price - 60% of its initial price. If the final price of the worst-performing stock is less than its barrier price, the payout will be a number of shares of the worst-performing stock equal to par divided by that stock's initial price.

The notes are expected to price on April 25 and settle on April 30.

HSBC Securities (USA) Inc. will be the agent.

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